Phoenix Homes For Sale | Phoenix MLS | Phoenix Real Estate | Morrison Residential LLC

Reports: Phoenix housing values improve

Two reports released Tuesday, one local and one national, appear to confirm that housing values are improving in the Phoenix market. Arizona State University’s Repeat Sales Index shows that although prices are lower than one year ago, the declines are not as severe as they have been. For instance, the index shows prices dropped 9 percent from January 2009 to January 2010. That compares with... [Read more...]

Vincent’s Farmers Market on Camelback

Chris Morrison and Cindy Fassel with Morrison Residential / www.NorthCentralLiving.com visit Vincent’s Farmers Market on Camelback in the parking lot of Vincent. Posted on Phoenix Homes For Sale | Phoenix Real Estate | Morrison Residential LLC

Phoenix homes now undervalued by 22%

A frequent leader of late on the negative side of housing stats, Phoenix avoided the top spot among offenders on IHS Global Insight’s analysis of overvalued housing markets during the real estate bubble. And as of year-end, home prices here were undervalued by more than 22 percent, according to the data released Friday. “The metro areas of California and Florida dominated the extremely... [Read more...]

Fast evictions hurt Phoenix homeowners during foreclosure.

Homes that fall into foreclosure in Phoenix are sold at a public auction. The highest bidder becomes the new owner. The former owner then has to move out. Departing owners have five days under Arizona law to vacate the property. But in the overheated foreclosure market that has come in the wake of the metropolitan Phoenix housing crash, some people are being told to get out the same day their house... [Read more...]

We are proud to introduce “WINDSOR” a new North Central Phoenix Restaurant – NorthCentralLiving.com

Check out this video interview with Craig DeMarco. He has some great surprises in store for North Central Phoenix! Postino’s is celebrating their first anniversary on Central! What better way to celebrate then by breaking ground on a new restaurant. Located in the 1940’s building just north of Postino’s on the east side of the street a renaissance begins. Planning to open by September... [Read more...]

More than half of AZ mortgages upside down

Read this in the Phoenix Business Journal. If you are upside down and have a financial hardship and need to sell your Arizona home I can help. Please visit www.help4az.com or Call Chris Morrison  @ 602-999-8878. More than 11.3 million, or 24 percent, of all residential properties with mortgages, were in negative equity at the end of the fourth quarter, up from 10.7 million and... [Read more...]

Tax Consequences Of A Short Sale in Phoenix, AZ

Many homeowners are unaware that when completing a short sale, possible short sale tax issues can arise. As such, an owner considering an Arizona short sale should absolutely discuss these possible issues with an attorney, accountant, or other appropriate professional. From our understanding, the debt forgiven by a lender is generally taxable to the borrower as “debt discharge income.”... [Read more...]

What happens to my credit if I do a Short Sale in AZ?

The credit consequences of a short sale and the credit consequences of a foreclosure vary slightly. The general consensus is that a short sale will show up on your credit report as a “settled”, “settlement for less than owed” or a “pre-foreclosure”. Also, since some lenders will not consider allowing a short sale until a few payments have actually been missed you may also have a few “lates”... [Read more...]

First Time Homebuyer Credit with Co-Signer in Arizona?

First Time Homebuyer Tax Credit Q&A Scenarios Brought to you by Chris Morrison. Phoenix Real Estate | Phoenix Homes for Sale Q. Taxpayer A is a single first-time home buyer. Taxpayer B (parent) cosigns for A and does not qualify. Both names are on the mortgage. Can Taxpayer A claim the credit and, if so, how much? A. Yes. Taxpayer B is not a first-time homebuyer and cannot... [Read more...]

A must read if you are facing foreclosure!

Check in with us next week, we will be interviewing a foreclosure lawyer via video. We will be asking the key questions that cover what you will want to know when facing foreclosure and how to protect yourself. Chris Morrison is a Central Phoenix Real Estate Agent. His team has successfully helped hundreds of families avoid foreclosure through successful short sales. Arizona’s anti-deficiency... [Read more...]

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